FirstSource, a business process outsourcing company, purchased U.S.-based mortgage service provider ISGN’s BPO business to expand the company.
The news was reported by The Economic Times author Jochelle Mendonca, who wrote that the company said that over 700 employees from ISGN’s BPO division in the U.S. and India will join FirstSource through this acquisition. The terms of the deal were not disclosed.
“The acquisition mark’s FirstSource’s penetration into the growing US mortgage BPO market,” said FirstSource chairman Sanjiv Goenka. “ISGN’s deep knowledge in the mortgage outsourcing space coupled with a set of marquee customers provides us with significant opportunities to cross-sell capabilities and leverage our global relationships,” added Goenka
According to Goenka, their third quarter results are consistent with their expectations. They are able to meet their operational and financial targets.